Perni Nani challenges Keshav on state borrowings

YSRCPleader Perni Venkatramaiah (Nani) challenged finance minister Payyavula Keshav to prove his claim that the present coalition government borrowed only Rs 1.05 lakh crore in the last 20 months and never crossed the Net Borrowing Ceiling (NBC).

Addressing the media at the YSRCP central office here on Friday, Nani said the finance minister should issue an official statement through the principal secretary of the finance department to substantiate the claim. He said mere political statements were not enough and demanded documentary evidence, similar to the data the YSRCP presented based on official records.

Nani alleged that according to figures available on the Comptroller and Auditor General of India (CAG) website, the coalition government has raised about Rs 3.27 lakh crore in the past 20 months. He said the amount includes Rs 81,082.51 crore borrowed during the 2024–25 financial year and Rs 87,674.04 crore between April 1, 2025 and January 31, 2026, taking direct borrowings to nearly Rs 1.70 lakh crore.

In addition, he said Rs 89,026.82 crore was raised through government-guaranteed loans by various corporations, Rs 11,850 crore through bonds issued by the AP Beverages Corporation, and another Rs 9,900 crore through State Development Loans (SDLs) in February and March 2026. Together, these borrowings amount to Rs 3.27 lakh crore, he alleged.

Nani challenged the finance minister to get the finance department’s principal secretary to officially certify within a week that the government borrowed only Rs 1.05 lakh crore and did not exceed the borrowing limit.

The former minister also criticised the government’s policies on industrial incentives, education and governance, alleging misuse of public funds and failure to address key public issues. He accused the coalition government of spreading misinformation on state finances while neglecting administrative accountability.